S&P 500 top movers: Deere & Company (DE) hit all-time high above $200
- S&P 500 is posting small gains in choppy trading day.
- Deere & Company (NYSE: DE) shares advanced to record highs on upbeat earnings outlook.
- Keysight Technologies Inc (NYSE: KEYS) drops as investors book profits.
Wall Street's main indexes opened the day little changed on Friday and continue to fluctuate in tight ranges ahead of the weekend. As of writing, the S&P 500 Index was up only 0.06% on a daily basis at 3,387.
S&P 500 top movers
Deere & Company (DE), the world's largest farm equipment maker, announced on Friday that it revised its net income forecast for the full year to $2.25 billion from the earlier estimate of $1.6 billion to $2 billion. The company further noted that the operating cash flow for the year is estimated to be $2.8 billion, higher than May's estimate of $1.9 billion to $2.3 billion.
Boosted by these figures, DE surged to a fresh all-time high of $202.95 on Friday and was last seen up 5.5% on the day at $201.70. DE also remains on track to close fourth straight week in the positive territory and has gained more than 13% since the beginning of August.
On the other hand, Keysight Technologies Inc (KEYS: NYSE) shares are down 6% on the day at $96.62 as the biggest percentage loser on Friday. Following the closing bell on Thursday, the company reported Q3 revenue of $1.01 billion, beating analysts estimate of $927.5 million. KEYS rose as much as 2.6% in premarket trading but reversed its course after the opening bell on Friday, suggesting that investors have opted out to book their profits.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
